Browsing Tag

buying a car

Debt

How To Shop Around For Car Finance

Buying or leasing a vehicle can take a lot of time and energy. The good news is that you have some great resources literally at your fingertips that can help you to do your research more efficiently.

Leasing a Vehicle

There are some great apps that you can use on your mobile device that will allow you to compare car leasing deals. If leasing a vehicle makes the most sense to you based on your lifestyle and financial situation, then make sure that the lease you select provides you with the greatest options and advantages. Don’t just settle for the first deal you read about. It pays to spend the time and weigh the pros and cons of each option. Make good use of the apps and websites that are available to you.

September 26, 2012

General

Should I Lease Or Buy A Car?

It is the age old question, do you lease or buy? It is a thought that comes across most of our minds when we are looking for homes or cars. Big questions emerge such as; will I pay more to lease it? Wouldn’t I want to own it outright if I am making a monthly payment on the car? What exactly are the perks when leasing a car? Those and many more questions should be addressed before you sign your name on the dotted line.

Alright, let’s be honest. Who really enjoys stepping onto a car lot and getting bombarded by pushy, aggressive sales people? Even if you mentally prepare yourself for the challenge ahead, you can never fully understand all the curve balls that come your way. Sure, you start with the fun part – the test drive! You feel the leather under your hands, enjoy the new car smell, and play with all the gadgets on the dash board, but you know what is to come. The minute you step out of the car here it comes. PAPERWORK! Be prepared because they are going to want to know just about everything. You’ll also have to contend with those three little numbers that mean so much to our society… the credit score.

July 16, 2010

General

Is it Better to Lease or Buy a Car? It Depends

Cars are among the most expensive purchases we’ll make. It’s therefore understandable that consumers want to make the right choice in deciding how to pay for a new car, whether to buy or lease.

When deciding on the best option for your unique circumstances, it really depends on your lifestyle and priorities. Car buying is just one consideration that needs to fit in a much larger picture. In reality, the perfect option for one person can be totally wrong for another.

First off, let’s consider how a lease differs from financing. When you lease a vehicle, in effect you are paying for your “use” of the car. You don’t own it. Rather, you get exclusive rights to use the car, for a predetermined period of time. Basically, you are paying for the equivalent amount of the car that you “use up”. Leasing has a number of cumbersome restrictions, not the least of which is that it is very difficult to get out of or transfer a lease. Generally, once you’re in a lease, you’re in it for the entire term.

March 9, 2010

Debt

How to Avoid Car Financing Pitfalls

If you are considering the purchase of your first car or even your next vehicle if you?re not a first time car buyer, you may be concerned about the prospect of financing your vehicle. This concern is not totally unfounded. There are numerous pitfalls that can occur when financing a new vehicle, especially if you plan to use dealership financing. In order to avoid running into these problems, and possibly stalling your purchase read the tips below.

First, understand exactly how important your credit score is to your auto loan application. Even when working with a dealership loan department, be aware that your credit history will be run and your credit score will have a major impact on your ability to obtain an auto loan as well as the terms you are offered. Ideally, it is best to stay on top of things and get an idea of the condition of your credit history yourself before you even step foot into the dealership. Look to make sure there are no errors on there that could be dragging down your score. If your credit score is not in great condition and it is not due to errors, consider delaying the purchase of a vehicle until you can clean it up by paying down some other debts and improving your bill payment schedule; both of which will help to raise your credit score. Remember, a low credit score can prevent you from getting a better interest rate as well as the loan itself.

January 12, 2010

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